Circle CEO Jeremy Allaire believes that the risks to the banking system haven’t completely disappeared days after the US federal government stepped in to protect depositors of the now-collapsed Silicon Valley Bank.
While praising the actions of the federal government, Allaire says in a new CNBC interview that contagion risks still remain.
“Fortunately again, the path that the federal government took was I think the right path.
As we’ve seen, the risks of contagion, the risks of a broader fallout in the financial system appear to have been systemic. And I think that President Biden and [U.S. Treasury] Secretary [Janet] Yellen, etc have made a good set of decisions there. I don’t think those risks have dissipated at this point entirely.”
The CEO of
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